Agree Realty Corporation (NYSE:ADC) Announces Monthly Dividend of $0.27

Agree Realty Corporation (NYSE:ADC) announced a monthly dividend on Tuesday, November 10th. Stockholders of record on Monday, November 30th will be given a dividend of $0.2710 per share by the real estate investment trust on Monday, December 14th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, November 30th.

Agree Realty has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 1 years. Agree Realty has a payout ratio of 165.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Agree Realty to earn $4.67 per share next year, which means the company should continue to be able to cover its $3.25 annual dividend with an expected future payout ratio of 69.6%.

Agree Realty Trading Down 1.4%

Shares of NYSE ADC traded down $0.97 during midday trading on Wednesday, reaching $68.91. The company had a trading volume of 60,178 shares, compared to its average volume of 1,365,704. The stock has a market cap of $8.96 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 3.11 and a beta of 0.40. Agree Realty has a one year low of $64.34 and a one year high of $82.08. The firm’s fifty day moving average price is $68.13 and its 200-day moving average price is $74.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.55.

Agree Realty (NYSE:ADC) last announced its quarterly earnings data on Tuesday, October 20th. The real estate investment trust reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.68. Agree Realty had a return on equity of 4.00% and a net margin of 29.75%. The firm had revenue of $213.88 million during the quarter, compared to the consensus estimate of $211.52 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. On average, equities research analysts anticipate that Agree Realty will post 4.45 earnings per share for the current year.

Agree Realty Company Profile

Agree Realty Corporation is a real estate investment trust (REIT) focused on acquiring, developing and managing net-leased properties, primarily occupied by retail businesses. Its portfolio includes freestanding stores and other properties leased to national and regional retailers. Under net leases, tenants generally assume responsibility for property expenses such as taxes, insurance and maintenance, while Agree Realty owns the real estate and collects rent. The company’s properties are located across the United States.